✨ Financial Reports
3248 NEW ZEALAND GAZETTE, No. 133 19 AUGUST 2005
The value of transactions owing at balance date were as follows:
The Power Company Limited Line Business owes PowerNet Limited Other Business $\2,170,000 (2004: $\2,256,000).
PowerNet Limited’s Line Business owes The Power Company Limited Other Business $\2,000 (2004: $\2,000).
The Southland Electric Power Supply Consumer Trust, which owns 100% of the shares in The Power Company Limited, is a related party. During the year expenses are paid out on behalf of the Trust, at 31 March 2005 these totalled $\130,000 (2004: $\86,000). The Trust has an outstanding debt to The Power Company Limited at balance date of $\130,000 (2004: Nil) for which a dividend has been provided for in the current year by The Power Company Limited.
No related party debts have been written off or forgiven during 2005 or 2004.
- Annual Valuation Reconciliation Report
| 31 March 2005 | 31 March 2004 | |
|---|---|---|
| $000 | $000 | |
| System fixed assets at ODV – end of the previous financial year | 217,278 | 152,433 |
| Less recalibration of system fixed assets | - | - |
| Revised system fixed assets – end of the previous financial year | 217,278 | 152,433 |
| Add system fixed assets acquired during the year at ODV | 6,264 | 9,498 |
| Less system fixed assets disposed of during the year at ODV | (224) | (441) |
| Less depreciation on system fixed assets at ODV | (9,538) | (7,176) |
| Add 11kV Servicemains returned to Lines Business ownership | - | 13,955 |
| Add revaluations of system fixed assets | - | 49,009 |
| System fixed assets at ODV – end of the financial year | 213,780 | 217,278 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 133
Gazette.govt.nz —
NZ Gazette 2005, No 133
✨ LLM interpretation of page content
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Transactions Between PowerNet Limited’s Line Business and The Power Company Limited Other Business
(continued from previous page)
🏭 Trade, Customs & IndustryTransactions, Power Company Limited, PowerNet Limited, Financial Statements, Southland Electric Power Supply Consumer Trust
💰 Annual Valuation Reconciliation Report for System Fixed Assets
💰 Finance & RevenueValuation, Reconciliation, Fixed Assets, Financial Year, Depreciation